Highlights:

Oversubscribed placement to new and existing institutional and sophisticated investors.

Approximately 83 million new ordinary shares to be issued at a price of A$0.06 per share.

Strong participation from International and Australian institutions.

Proceeds from the placement will be used to expedite and expand the production and marketing of Nuheara’s IQbuds™

PERTH, Western Australia – October 27, 2016 – Nuheara Limited (“Nuheara” or “the Company”), Australia’s only ASX listed consumer wearables technology company, is pleased to announce that it has received firm commitments from institutional and sophisticated investors to raise A$4.984 million. The placement was oversubscribed, with strong support from new and existing international and Australian based investors.

Using the Company’s existing 15% placement capacity under ASX Listing Rule 7.1, Nuheara will issue approximately 83.07 million new ordinary shares at A$0.06 per share. The Placement price of A$0.06 represents an 11.8% discount to the 30 day VWAP since last closing on 24 October 2016.

The proceeds from the placement will be used to fund the production and marketing of IQbuds™:

Ramping up further retail partnership trials and discussions beyond North America and

Supporting traditional and digital marketing initiatives that will help to drive sales in all

Increase inventory levels with Nuheara’s contract manufacturer, Flextronics, that in turn will ensure adequate product levels are maintained to support the diversification and expansion of the retail

“The Company has worked tirelessly to bring forward much of its product development and marketing opportunities since we listed less than 8 months ago. Accordingly, from the A$1 million in IQbuds™ pre-orders now received, we are very excited about the expected commencement of shipping in December of our first production line IQbuds™; all of which was conducted in less than 12 months from producing our first working wearable prototype. It has been an incredible effort from a very capable and experienced team”, said Nuheara CEO Justin Miller.

“The additional funds will vastly increase Nuheara’s global reach, supply and sales potential. We are very pleased to have been so well supported in the raise by new domestic and international institutional investors. It demonstrates Nuheara’s global appeal and ensures we have the financial backing to pursue all the market opportunities currently presented to us in 2017”.

Foster Stockbroking and Aetas Global Markets Limited acted as the co-lead managers to the placement.

New Shares taken up under the placement are expected to be settled and issued next week with an Appendix 3B and Cleansing Prospectus to be lodged with ASX following the issue.

Nuheara is an innovative audio Wearables company. It has developed proprietary hardware and software to deliver multi-functional intelligent hearing technology that augments a user’s hearing and facilitates cable free connection to smart devices. With Nuheara’s IQbuds™, consumers are able to augment their hearing according to their personal hearing preferences and connect hands free with their voice enabled smart devices. Nuheara’s mission is to improve people’s lives by allowing them to seamlessly listen, communicate and connect to their physical and digital world. Learn more about Nuheara: www.nuheara.com.